The Montgomery County Department of Economic Development (DED), in partnership with the Maryland Department of Business and Economic Development’s Office of Small Business, today hosted a free financial seminar for County small business owners to provide them direct access to area lending institutions during current economic times.
Small business owners and participants met directly with representatives from nearly twenty local banks and public lending entities to discuss specific lending requirements and determine the best lender for current or future business needs.
     “During these current economic times, our Department is doing all it can to assist and support our local business community,” said Dr. Pradeep Ganguly, DED director. “Facilitating this session to provide direct contact between area lending entities and small business owners was an important step and we are confident today’s event proved beneficial for all parties involved.”
     DED partners also offered two sessions as part of the seminar. The Maryland Small Business Development Center Network (SBDC) led a session on creating an effective business plan and the Latino Economic Development Corporation (LEDC) led a session on understanding one’s credit score and report.
     “The main goal of this seminar was to allow local small businesses to meet face-to-face with over twenty banks and lending entities in a one-stop shop type atmosphere and walk away with a very good chance of securing a loan or related financing,” said Dr. DeVance Walker, Jr., manager, DED Small Business Services. “An added benefit for participants was getting professional guidance on how to create an effective business plan and how to better understand their credit score, so we hope everyone here today had a very valuable and productive experience.”
      The Montgomery County Department of Economic Development is charged with implementing the County’s economic development vision of being a globally-competitive, highly-diversified and knowledge-based economy that provides for the retention and growth of existing companies, stimulates new job creation and enhances entrepreneurial opportunities for all businesses. DED offers a broad range of programs, services, partnering opportunities and strategic financing resources to support and expand the County’s business, job and tax base. To learn more, visit www.SMARTmontgomery.com.

# # #